If you read the December news release these were to be in production already.This is exactly why we may test sub .50. Delays = risk.>



Delays?  Really?  The NR was dated mid-December and said that both wells would be still need to be tied in to existing infrastructure and tested before going into production.

Did you really think that they could do all of this during the final two weeks of December when most people are off on holidays, including the government workers who have to process the paperwork prior to going into production?

The Kirkpatrick wells are currently producing and will be adding to the totals for THIS quarter, not the last one.  The 1,020 BOEPD break down like this:

200+ BOPD from the existing 50% production with the JV partner.

300 BOPD accrued as of Nov. 1 from the Saskatchewan purchase.

100+ BOEPD of NG being released with another 100 BOEPD still behind the pipe.

400 BOPD of production from the new drilling with the JV partner.


By March 31, 2013 we will be between 1,400 BOEPD to 1,500 BOEPD of mostly light oil.

Add in the work to double the Saskatchewan production with the drilling of a few more new wells and surpassing 2,000 BOEPD by this summer is a virtual no brainer.


This is one company that I am no longer worried about.  The stock price sucks, but fortunately the company certainly does not.